Policy Advisor to the AG John Maggiore said it's important for families to consider all of their financial options before taking out a loan.
"It's important to look for grants, scholarships and fellowships," said Maggiore. "Almost every institution has them."
Despite the results of last year's probe, Maggiore urged families to seek resources at college financial aid offices.
Maggiore said that many financial aid programs are a combination of grants, scholarships and federal loans. Still, Maggiore said, many of these packages leave a gap that must be covered by the student. To pay for this gap, many students take out commercial loans. According to Maggiore, students can get the best rates by shopping around.
"Don't just take the first offer that comes across your plate," said Maggiore.
"Taking out a loan and getting a free iPod might be nice, but you'll be paying extra.""